Equity markets climbed in Europe yesterday
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
USD/CAD : falls after jobs report but runs into wall of USD buying
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further weakness the last hours and trading near 23.6% retracement area.
US Market View
U.S. stocks are set to build on Thursday’s record closes at the opening, with quiet bond markets largely unruffled by the gradual reopening of the economy. Crude oil prices continue to drift sideways against a backdrop of rising supply and some uncertainty over whether demand is recovering fast enough to absorb it.
March inflation data out of China confirmed the start of a widely-expected increase in prices, measured in annual terms. PPI rose 4.4% on the year, the fastest increase since July 2018 and well ahead of expectations, while CPI rebounded to 0.4% on the year from -0.2% in February.
Europe’s sluggish vaccination campaign is showing signs of picking up at last. German Health Minister Jens Spahn tweeted that Europe’s largest economy had distributed 1.375 million vaccine shots in the last two days alone, something that reflects the fact that Germany only this week started allowing general practitioners' surgeries to vaccinate against Covid-19.
USA Key Point
- Canada March employment +303.1K vs +100.0K expected.
- The NZD is the strongest and the JPY is the weakest.
- Treasury yields keep higher, US futures mixed ahead of North American trading.
- Merkel talks with state leaders on Monday has been cancelled.
- Gold bounce stalls at short-term resistance.
- German health minister warns that current infection numbers yet to reflect actual virus situation.
- Dollar gains kept in-check so far on the session.
- ECB's de Guindos: Downside risks have materialised, Q1 was worse than initially expected.
Similar
Brutal session in the equity markets yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
The U.S. economy added 390,000 jobs in May
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
Popular
European Currencies Ahead of the Banks' Statements
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
Will the FOMC Surprise the Markets?
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
What awaits the Oil Market in February?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Choose your payment system
